Despite the importance of finance, accounting, and consumer intelligence, these topics are typically neglected in high schools. Unfortunately, personal finance is often learned by trial and error. The problem with this method of learning is that it only takes one costly financial mishap to set you back for years. This is why I created a basic personal finance book for total beginners. With these concepts you can use the other books in the Smart Money series to further build your knowledge of personal finance topics.
This course provides an overview of the elements necessary for effective personal financial planning and the opportunity to apply the techniques and strategies essential to this understanding. Primary areas of study include creating and managing a personal budget, understanding and paying taxes, working with financial institutions, wise use of credit cards and consumer loans, financing automobiles and homes, and the use of insurance for protecting one’s family and property.
Financial Class: On June 05 you attended a financial class to help you plan accordingly your
Finish your discussion with your thoughts on how this information affects you personally including any insights you had about yourself and the stress that you experience. I believe that for everyone money is a big stressor, so I feel like it was a great chapter that I took a lot away from. I really enjoyed this lesson because of all the tips it gave me to start managing my money better. I think the great think about this chapter is that it is a good reminder for everyone, no matter if there young, old, rich, or poor; all the points made in this chapter are things we all need to keep in mind when thinking about money. My favorite thing is this whole chapter was David Ramsey’s comment about contentment. I think he was completely right when he said that the most important financial principle is contentment. While I think most people know more money and stuff will not make them happy, I know for me personally, contentment is one of the hardest things to master. So it was a good reminder for me and made me think a lot about the silly things I am spending money on that really are unneeded. This chapter gave lots of tips that I will be using throughout my life to help manage my money and reduce my
Future initiatives with financial education can change the landscape of an individual’s life and the economy in which we live. If there is limited focus on learning about personal finances we continue to set our economy up for constant failure. There is a substantial amounts of education provided to school age children that does not directly impact their financial education for their future. In high school individuals learn
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
I chose this course simply in the hopes that it would aid me in securing that foundation of knowledge and that any application of the material would result in self-betterment. At the closing of my first lecture, I was enamored with my professor Jared Pickens’ witty and exuberant demeanor. He had an undeniable passion for educating others that had cultivated through-out his years as a Financial Counselor to his current role as Senior Lecturer. Although the course had originally been designed to help students develop a sense of their own personal finances, Professor Pickens offered additional insight into the career of financial planning based on his own experiences within the field. To demonstrate our understanding of the financial planning concepts and methods, we were assigned a semester-long project in which we were to dissect an elaborate case-study and present our conclusions in a formal presentation. My partner and I wasted no time on outlining our assignment, as we were both genuinely excited about unveiling the financial complexities of our new “clients”. We spent countless evenings in the school library analyzing the data while pouring over textbooks, websites, and research to develop the perfect recommendations. In an added measure of creativity and fun, we fashioned our own faux
This course has been an eye opening and empowering experience. It has encouraged me and reaffirmed my thoughts on debt, but it has also brought to my awareness that although saving money is great, not investing any of it is a great mistake.
Thesis: Today I will inform the audience of the power of saving small amounts of money for the future and how compound interest works in their favor when they start saving as soon as possible.
When trying to obtain a balanced lifestyle you have to follow the Personal financial planning process: figure out your current financial situation, develop realistic goals to be met, figure out other alternatives and evaluate them, and last but not least, you want to create a plan of action, review it and revise it (McGraw-Hill, 2010).
It is important to understand that this initial financial roadmap will not stay “current” forever. It will become outdated with changes in your goals and objectives, tax laws, and other personal economic circumstances. Thus, it is important to have your Financial Plan updated on a periodic basis. We should meet at minimum annually to update; more often if life changes occur. We should also meet to address other financial planning issues still to be addressed.
Since your goal, presumably, is to improve your financial situation, the book will not waste time with further motivation or pointed fingers, i.e. you choose which ideas to implement and how to use improvements.
The management of individual finances indicates the beginning of financial planning. Financial planning refers to the process of developing a strategy that aids an individual to manage and control their spending and investments to suit their current, as well as future needs. Financial planning is an essential aspect of individuals’ as well as organizations’ continuity.
Financial planning has become much more important over the decade in Hong Kong and China. Many graduates and other people with professional financial planning knowledge